Ilera Healthcare

Ilera Healthcare established itself as a key operator in Pennsylvania's medical marijuana market since its founding in 2016. The company was among the first to be awarded a vertically-integrated "super license" in the state, permitting it to cultivate, process, and dispense medical cannabis. This structure allowed Ilera to manage the entire production chain, from its cultivation and processing facility in Waterfall, Pennsylvania, to its primary dispensary in Plymouth Meeting. The company's business model focused on serving registered patients in the Pennsylvania Medical Marijuana program, offering a range of products designed for therapeutic use. It also functioned as a major wholesaler, distributing its products to the majority of other dispensaries across the state.

The management team included CEO Greg Rochlin, Chief Scientific Officer Oludare Odumosu, and Chairman of the Board Osagie Imasogie. Imasogie has a three-decade background in law, finance, and the pharmaceutical industry, having held roles at GlaxoSmithKline and Endo Pharmaceuticals, and founding several life sciences companies. This executive experience in healthcare and pharmaceuticals guided Ilera's strategy, which emphasized scientific formulations and quality control. The company built a genetic library of over 170 cannabis strains and utilized advanced CO2 and ethanol extraction methods.

Demonstrating significant growth, Ilera's revenue run-rate grew from under $8 million in 2018 to over $43 million by mid-2019. This performance attracted the attention of TerrAscend Corp., a global cannabis company, which announced its acquisition of Ilera Healthcare in August 2019 for a total consideration between $125 million and $225 million. The deal, which closed in September 2019, integrated Ilera into TerrAscend's portfolio, making it an operating subsidiary. The Ilera management team was retained to continue leading the Pennsylvania operations and contribute to TerrAscend's broader expansion. Following the acquisition, Ilera also established a partnership with Southern University to launch medical cannabis products in Louisiana under the brands AYO and ALAFIA.

Ilera Healthcare's product portfolio is extensive, catering to various patient needs and delivery preferences. The company produces cannabis flower, vaporizable concentrates, tinctures, and topicals. For patients preferring non-inhalation methods, it offers precisely dosed softgels, tablets, and sublingual tinctures. Its product lines, such as 'HOPE' and 'SOOTHE', were formulated with specific ratios of cannabinoids like THC and CBD and terpenes to achieve targeted therapeutic effects for conditions such as pain, anxiety, and sleep disorders. All products undergo in-house lab testing to ensure consistency and safety before reaching the market. Keywords: medical cannabis, Pennsylvania cannabis, cannabis cultivation, cannabis processing, dispensary operator, vertically integrated cannabis, TerrAscend, Greg Rochlin, Osagie Imasogie, cannabis tinctures, cannabis topicals, medical marijuana program, cannabinoid science, Waterfall PA, Plymouth Meeting dispensary, AYO cannabis, ALAFIA, Ilera Holistic Healthcare, cannabis concentrates, seed-to-sale